The TJX Companies, Inc. (TJX) Income Statement

30Y historyFree accessUpdated daily

Revenue growth accelerated to 9.2% in Q1 FY2027, while gross margin expanded to 33.4% in Q2 FY2027, a 270 basis point year-over-year improvement that appears to reflect favorable buying conditions and disciplined expense management.

Annual statement

TJX Income Statement

The TJX Companies, Inc. (TJX) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Jan'26	Jan'25	Jan'24	Jan'23	Jan'22	Jan'21	Jan'20	Jan'19	Jan'18	Jan'17	Jan'16	Jan'15	Jan'14	Jan'13	Jan'12	Jan'11	Jan'10	Jan'09	Jan'08	Jan'07	Jan'06	Jan'05	Jan'04	Jan'03	Jan'02	Jan'01	Jan'00	Jan'99	Jan'98	Jan'97

Sales/Revenue	62.36B	60.37B	56.36B	54.22B	49.94B	48.55B	32.14B	41.72B	38.97B	35.86B	33.18B	30.94B	29.08B	27.42B	25.88B	23.19B	21.94B	20.29B	19B	18.34B	17.1B	15.96B	14.86B	13.33B	11.98B	10.71B	9.58B	8.8B	7.95B	7.39B	6.69B
Revenue Growth %	7.66%	7.12%	3.95%	8.57%	2.85%	51.07%	-22.96%	7.04%	8.67%	8.08%	7.23%	6.42%	6.04%	5.97%	11.59%	5.69%	8.15%	6.78%	3.61%	7.21%	7.2%	7.37%	11.5%	11.24%	11.88%	11.8%	8.91%	10.65%	7.58%	10.46%	68.28%
Cost of Goods Sold	42.35B	41.68B	39.11B	37.95B	36.15B	34.71B	24.53B	29.85B	27.83B	25.5B	23.57B	22.03B	20.78B	19.61B	18.52B	16.85B	16.04B	14.97B	14.43B	13.84B	12.97B	12.21B	11.36B	10.1B	9.08B	8.12B	7.01B	6.42B	5.82B	5.55B	5.07B
COGS % of Revenue	-	69.04%	69.4%	70%	72.39%	71.5%	76.34%	71.54%	71.41%	71.11%	71.02%	71.21%	71.45%	71.49%	71.57%	72.67%	73.1%	73.78%	75.95%	75.49%	75.83%	76.55%	76.43%	75.79%	75.78%	75.85%	73.21%	72.98%	73.23%	75.13%	75.82%
Gross Profit	20.01B	18.69B	17.25B	16.27B	13.79B	13.84B	7.6B	11.87B	11.14B	10.36B	9.62B	8.91B	8.3B	7.82B	7.36B	6.34B	5.9B	5.32B	4.57B	4.5B	4.13B	3.74B	3.5B	3.23B	2.9B	2.59B	2.57B	2.38B	2.13B	1.84B	1.62B
Gross Margin %	32.09%	30.96%	30.6%	30%	27.61%	28.5%	23.66%	28.46%	28.59%	28.89%	28.98%	28.79%	28.55%	28.51%	28.43%	27.33%	26.9%	26.22%	24.05%	24.51%	24.17%	23.45%	23.57%	24.21%	24.22%	24.15%	26.79%	27.02%	26.77%	24.87%	24.18%
Gross Profit Growth %	-	8.38%	6.04%	17.98%	-0.35%	81.98%	-35.95%	6.55%	7.52%	7.74%	7.94%	7.33%	6.19%	6.26%	16.09%	7.38%	10.93%	16.4%	1.67%	8.73%	10.5%	6.79%	8.58%	11.2%	12.2%	0.76%	8.01%	11.66%	15.83%	13.6%	77.52%
Operating Expenses	12.01B	11.52B	10.95B	10.47B	8.93B	9.08B	7.02B	7.45B	6.92B	6.38B	5.77B	5.21B	4.7B	4.47B	4.25B	3.89B	3.7B	3.33B	3.11B	3.24B	2.85B	2.7B	2.49B	2.21B	1.94B	1.69B	1.68B	1.52B	1.42B	1.31B	1.21B
OpEx % of Revenue	-	19.07%	19.42%	19.31%	17.88%	18.7%	21.85%	17.87%	17.77%	17.78%	17.38%	16.82%	16.15%	16.29%	16.42%	16.77%	16.86%	16.4%	16.34%	17.65%	16.69%	16.94%	16.74%	16.6%	16.18%	15.75%	17.53%	17.23%	17.9%	17.74%	18.15%
Selling, General & Admin	12.04B	11.52B	10.95B	10.47B	8.93B	9.08B	7.02B	7.45B	6.92B	6.38B	5.77B	5.21B	4.7B	4.47B	4.25B	3.89B	3.71B	3.33B	3.14B	3.24B	2.85B	2.7B	2.49B	2.21B	1.94B	1.69B	1.5B	1.35B	1.29B	1.19B	1.09B
SG&A % of Revenue	-	19.07%	19.42%	19.31%	17.88%	18.7%	21.85%	17.87%	17.77%	17.78%	17.38%	16.82%	16.15%	16.29%	16.42%	16.77%	16.91%	16.41%	16.5%	17.65%	16.69%	16.94%	16.74%	16.6%	16.18%	15.75%	15.69%	15.4%	16.18%	16.05%	16.25%
Research & Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-1000K	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-11.55M	-758K	-30.5M	0	0	0	0	0	0	0	175.78M	160.39M	136.5M	124.9M	126.8M
Operating Income	8B	7.18B	6.3B	5.8B	4.86B	4.75B	582M	4.42B	4.22B	3.99B	3.85B	3.7B	3.61B	3.35B	3.11B	2.45B	2.2B	1.99B	1.47B	1.26B	1.28B	1.04B	1.02B	1.01B	963.1M	899.69M	887.85M	861.28M	705.7M	526.67M	403.5M
Operating Margin %	12.83%	11.89%	11.18%	10.69%	9.73%	9.79%	1.81%	10.59%	10.82%	11.12%	11.6%	11.97%	12.4%	12.22%	12%	10.55%	10.04%	9.82%	7.71%	6.86%	7.48%	6.51%	6.83%	7.61%	8.04%	8.4%	9.27%	9.79%	8.88%	7.13%	6.03%
Operating Income Growth %	-	13.9%	8.71%	19.28%	2.21%	717.01%	-86.82%	4.69%	5.79%	3.58%	3.91%	2.72%	7.64%	7.86%	26.95%	11.07%	10.61%	35.94%	16.43%	-1.66%	23.29%	2.21%	0.15%	5.28%	7.05%	1.33%	3.08%	22.05%	33.99%	30.53%	149.07%
EBITDA	9.01B	8.43B	7.41B	6.76B	5.75B	5.62B	1.45B	5.28B	5.04B	4.71B	4.51B	4.32B	4.2B	3.9B	3.62B	2.93B	2.66B	2.43B	1.87B	1.69B	1.7B	1.44B	1.39B	1.34B	1.17B	1.1B	1.06B	1.02B	842.2M	651.57M	530.3M
EBITDA Margin %	14.45%	13.96%	13.14%	12.47%	11.51%	11.58%	4.52%	12.67%	12.93%	13.14%	13.59%	13.96%	14.43%	14.22%	13.97%	12.65%	12.13%	11.96%	9.83%	9.19%	9.95%	9.05%	9.39%	10.09%	9.77%	10.31%	11.1%	11.62%	10.59%	8.82%	7.93%
EBITDA Growth %	17.69%	13.76%	9.54%	17.64%	2.21%	286.99%	-72.5%	4.88%	6.88%	4.55%	4.33%	3%	7.59%	7.85%	23.28%	10.2%	9.65%	30%	10.78%	-1.02%	17.96%	3.49%	3.76%	14.79%	6.09%	3.77%	4.11%	21.31%	29.26%	22.87%	119.86%
D&A (Non-Cash Add-back)	979M	1.25B	1.1B	964M	887M	868M	871M	867.3M	819.65M	725.96M	658.8M	616.7M	588.98M	548.82M	508.93M	485.7M	458.05M	435.22M	401.71M	426.77M	422.91M	405.48M	379.18M	330.18M	207.88M	204.08M	175.78M	160.39M	136.5M	124.9M	126.8M
EBIT	8.09B	7.3B	6.56B	6.05B	4.72B	4.52B	283M	4.47B	4.24B	3.92B	3.78B	3.72B	3.61B	3.37B	3.12B	2.46B	2.21B	2B	1.49B	1.26B	1.28B	1.04B	1.02B	1.01B	963.1M	899.69M	887.85M	861.28M	705.7M	526.67M	403.5M
Net Interest Income	130M	121M	181M	170M	-6M	-115M	-181M	-10.03M	-8.86M	-31.59M	-43.53M	-46.4M	-39.79M	-31.08M	-29.18M	-35.65M	-39.14M	-758K	-14.29M	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income	186M	195M	257M	249M	78M	4M	13M	49.06M	55.98M	32.71M	18.14M	13.87M	15.59M	15.01M	11.66M	11.04M	9.88M	48.52M	23.83M	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense	56M	74M	76M	79M	84M	119M	194M	59.09M	64.84M	64.3M	61.67M	60.27M	55.38M	46.09M	40.83M	46.68M	49.01M	49.28M	38.12M	0	0	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	46M	121M	181M	170M	-224M	-357M	-493M	-10.03M	-44.98M	-130.84M	-126.48M	-46.4M	-56.62M	-31.08M	-29.18M	-35.65M	-39.14M	-40.27M	-14.29M	1.6M	-15.57M	-28.67M	-25.76M	-27.25M	-25.37M	-25.64M	-22.9M	-7.34M	-1.7M	-4.37M	-37.4M
Pretax Income	8.04B	7.3B	6.48B	5.97B	4.64B	4.4B	89M	4.41B	4.17B	3.86B	3.72B	3.66B	3.55B	3.32B	3.08B	2.41B	2.16B	1.95B	1.45B	1.26B	1.26B	1.01B	989.79M	986.74M	937.72M	874.04M	864.94M	853.94M	704M	522.3M	366.1M
Pretax Margin %	12.9%	12.09%	11.5%	11.01%	9.28%	9.06%	0.28%	10.56%	10.71%	10.75%	11.22%	11.82%	12.21%	12.1%	11.89%	10.4%	9.86%	9.62%	7.64%	6.87%	7.39%	6.33%	6.66%	7.4%	7.83%	8.16%	9.03%	9.71%	8.86%	7.07%	5.47%
Income Tax	1.98B	1.8B	1.62B	1.49B	1.14B	1.11B	-1M	1.13B	1.11B	1.25B	1.42B	1.38B	1.33B	1.18B	1.17B	915.32M	824.56M	737.99M	536.05M	477.65M	477.04M	318.54M	379.58M	377.33M	359.34M	333.65M	326.88M	327.12M	270.8M	215.7M	152.3M
Effective Tax Rate %	24.59%	24.73%	24.97%	25.02%	24.55%	25.35%	-1.12%	25.74%	26.68%	32.38%	38.27%	37.74%	37.6%	35.61%	38.04%	37.96%	38.1%	37.82%	36.95%	37.91%	37.73%	31.56%	38.35%	38.24%	38.32%	38.17%	37.79%	38.31%	38.47%	41.3%	41.6%
Net Income	6.07B	5.49B	4.86B	4.47B	3.5B	3.28B	90M	3.27B	3.06B	2.61B	2.3B	2.28B	2.22B	2.14B	1.91B	1.5B	1.34B	1.21B	880.62M	771.75M	738.04M	690.42M	609.7M	609.41M	578.39M	500.4M	538.07M	521.67M	424.2M	304.8M	363.1M
Net Margin %	9.73%	9.1%	8.63%	8.25%	7%	6.76%	0.28%	7.84%	7.85%	7.27%	6.93%	7.36%	7.62%	7.79%	7.37%	6.45%	6.12%	5.98%	4.63%	4.21%	4.32%	4.33%	4.1%	4.57%	4.83%	4.67%	5.62%	5.93%	5.34%	4.13%	5.43%
Net Income Growth %	21.97%	12.95%	8.72%	27.9%	6.55%	3547.78%	-97.25%	6.94%	17.33%	13.48%	0.9%	2.82%	3.64%	12.1%	27.44%	11.39%	10.68%	37.81%	14.11%	4.57%	6.9%	13.24%	0.05%	5.36%	15.59%	-7%	3.14%	22.98%	39.17%	-16.06%	1280.61%
Net Income (Continuing)	6.07B	5.49B	4.86B	4.47B	3.5B	3.28B	90M	3.27B	3.06B	2.61B	2.3B	2.28B	2.22B	2.14B	1.91B	1.5B	1.34B	1.21B	914.89M	782.43M	787.17M	689.83M	610.22M	609.41M	578.39M	540.4M	538.07M	526.82M	433.2M	306.6M	213.8M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3.61M	0	-34.27M	-10.68M	-49.13M	589K	-518K	0	0	-40M	0	0	-9M	0	154.9M
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	5.43	4.88	4.26	3.86	2.97	2.70	0.07	2.67	2.43	2.02	1.73	1.67	1.58	1.47	1.27	0.97	0.83	0.71	0.50	0.42	0.39	0.35	0.30	0.29	0.25	0.23	0.23	0.21	0.16	0.11	0.13
EPS Growth %	23.23%	14.55%	10.36%	29.97%	10%	3524.16%	-97.21%	9.88%	20.3%	16.76%	3.59%	5.7%	7.48%	15.75%	30.93%	16.87%	16.9%	42%	19.05%	7.69%	11.43%	16.67%	3.45%	16%	8.7%	0%	9.52%	31.25%	45.45%	-15.38%	-
EPS (Basic)	-	4.89	4.31	3.90	3.00	2.74	0.08	2.71	2.48	2.06	1.78	1.72	1.62	1.50	1.31	1.00	0.86	0.74	0.53	0.44	0.41	0.37	0.31	0.30	0.28	0.23	0.23	0.21	0.17	0.11	0.15
Diluted Shares Outstanding	1.12B	1.13B	1.14B	1.16B	1.18B	1.22B	1.21B	1.23B	1.26B	1.29B	1.33B	1.37B	1.41B	1.45B	1.5B	1.55B	1.63B	1.71B	1.77B	1.87B	1.92B	1.97B	2.04B	2.13B	2.22B	2.3B	2.31B	2.54B	2.68B	2.8B	2.69B
Basic Shares Outstanding	1.12B	1.13B	1.13B	1.15B	1.17B	1.2B	1.2B	1.21B	1.24B	1.27B	1.29B	1.33B	1.37B	1.41B	1.45B	1.49B	1.56B	1.68B	1.68B	1.77B	1.82B	1.87B	1.96B	2.03B	2.14B	2.21B	2.3B	2.52B	2.54B	2.57B	2.39B
Dividend Payout Ratio	-	33.53%	33.88%	33.17%	38.28%	38.13%	308.89%	32.75%	30.15%	29.3%	28.33%	23.9%	21.03%	18.42%	16.99%	18.38%	17.07%	16.29%	20.07%	19.63%	16.66%	15.24%	13.68%	11.3%	10.38%	9.65%	8.31%	8.19%	9.83%	14.27%	9.64%

Key Metrics

Growth RegimeAccelerating

ProfitabilityStrong

Balance SheetHealthy

Cash FlowRobust

Top Statement Risk

Wage inflation pressuring SG&A

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2027Q2)

Growth Accelerates on Traffic Strength

Revenue growth has accelerated from 5.1% in Q1 FY2026 to 9.2% in Q1 FY2027, with the most recent quarter showing a 5.4% increase, suggesting the off-price model is capturing share from value-seeking consumers.

The acceleration appears driven by broad-based traffic gains rather than ticket inflation, which aligns with the 'treasure hunt' model's health. The 9.2% growth in Q1 FY2027 was particularly strong, indicating momentum is building rather than fading. This trend suggests the company is successfully executing its flexible buying strategy in a favorable inventory environment.

Gross Margin Expansion Drives Profitability

Gross margin expanded to 33.4% in Q2 FY2027 from 30.7% a year prior, a 270 basis point improvement that appears to reflect favorable buying conditions and disciplined inventory management.

The margin expansion is significant given the company's structural constraint of maintaining a price gap versus department stores. This suggests the buying organization is securing more favorable close-out terms, potentially from a distressed full-price retail sector. The improvement is broad-based across quarters, indicating it may be more structural than temporary.

Operating Leverage Amplifies Margin Gains

Operating margin expanded to 13.1% in Q2 FY2027 from 11.2% a year prior, demonstrating that SG&A growth is being contained while gross profit scales, a hallmark of effective operating leverage.

The 190 basis point operating margin expansion outpaced the gross margin improvement, indicating SG&A as a percentage of revenue is declining. This suggests management is successfully controlling labor and occupancy costs despite wage pressures. The leverage is particularly evident in the Q2 comparison, where operating income grew 25% on 5.4% revenue growth.

EPS Growth Outpaces Net Income Growth

EPS grew 23.6% in Q2 FY2027 versus 27.3% net income growth, with the differential likely reflecting share repurchase activity that is reducing the share count and enhancing per-share metrics.

The strong EPS growth is supported by both operational improvement and capital allocation. The minimal stock-based compensation (zero in Q2 FY2027) suggests earnings are not being diluted by equity-based pay. The consistent positive EPS growth across most quarters indicates sustainable earnings power rather than one-time gains.

SG&A Discipline Supports Margin Expansion

SG&A as a percentage of revenue declined to 20.4% in Q2 FY2027 from 21.5% a year prior, suggesting management is maintaining expense discipline despite inflationary pressures in retail labor.

The improvement in SG&A leverage is notable given the company's labor-intensive store model and the recent flags about wage pressure. This suggests the company may be benefiting from productivity improvements or slower headcount growth. However, the sustainability of this discipline warrants monitoring as the labor market remains tight.

Margin Expansion May Face Structural Limits

While gross margins have expanded to 33.4%, this level is above the 10-quarter average of 31.1%, raising questions about sustainability if the favorable buying environment normalizes or if wage inflation re-accelerates.

The current margin level appears elevated relative to historical norms, and the off-price model's structural constraint of maintaining a price gap could limit further expansion. If the distressed inventory environment that supports favorable buying terms normalizes, gross margins could compress. Additionally, the SG&A improvement may be difficult to sustain if wage pressures intensify, potentially creating a margin ceiling.

TJX — Frequently Asked Questions

Quick answers to the most common questions about buying TJX stock.

What was The TJX Companies, Inc.'s (TJX) revenue in 2026?

For fiscal year 2026, The TJX Companies, Inc. (TJX) reported total revenue of $60.37B. This represents a 802.5% increase compared to $6.69B in 1997.

Is The TJX Companies, Inc. (TJX) profitable?

The TJX Companies, Inc. (TJX) is profitable, generating $5.49B in net income for the fiscal year ending 2026 with a net profit margin of 9.1%.

What is The TJX Companies, Inc.'s operating profit margin?

The TJX Companies, Inc. (TJX) reported an operating income of $7.18B, resulting in an operating profit margin of 11.9%. This margin reflects the operational efficiency of the business before interest and taxes.

What is The TJX Companies, Inc.'s gross profit and gross margin?

The TJX Companies, Inc. (TJX) generated $18.69B in gross profit for the year, representing a gross profit margin of 31.0%. This demonstrates the company's core pricing power and production efficiency.